Kennondale Capital Management LLC Takes $390,000 Position in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA)

Kennondale Capital Management LLC acquired a new position in shares of Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 52,769 shares of the biotechnology company’s stock, valued at approximately $390,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IOVA. Assetmark Inc. increased its position in Iovance Biotherapeutics by 48.0% during the third quarter. Assetmark Inc. now owns 12,853 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 4,167 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Iovance Biotherapeutics during the third quarter worth about $242,000. Victory Capital Management Inc. increased its position in Iovance Biotherapeutics by 399.4% during the third quarter. Victory Capital Management Inc. now owns 144,280 shares of the biotechnology company’s stock worth $1,355,000 after purchasing an additional 115,387 shares during the last quarter. Grandfield & Dodd LLC acquired a new stake in Iovance Biotherapeutics during the third quarter worth about $282,000. Finally, Intech Investment Management LLC acquired a new stake in Iovance Biotherapeutics during the third quarter worth about $920,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Iovance Biotherapeutics Stock Up 4.2 %

Shares of Iovance Biotherapeutics stock opened at $3.74 on Tuesday. Iovance Biotherapeutics, Inc. has a 52-week low of $3.48 and a 52-week high of $15.90. The company has a 50 day moving average of $5.40 and a 200 day moving average of $7.96. The company has a market capitalization of $1.23 billion, a P/E ratio of -2.51 and a beta of 0.93.

Iovance Biotherapeutics (NASDAQ:IOVA) last issued its quarterly earnings results on Thursday, February 27th. The biotechnology company reported ($0.26) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.26). Iovance Biotherapeutics had a negative net margin of 451.25% and a negative return on equity of 58.43%. The company had revenue of $73.69 million during the quarter, compared to the consensus estimate of $72.17 million. As a group, research analysts anticipate that Iovance Biotherapeutics, Inc. will post -1.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group dropped their price target on shares of Iovance Biotherapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Chardan Capital lowered their price objective on shares of Iovance Biotherapeutics from $34.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Truist Financial lowered their price objective on shares of Iovance Biotherapeutics from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Robert W. Baird lowered their price objective on shares of Iovance Biotherapeutics from $24.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, February 28th. Finally, Piper Sandler lowered their price objective on shares of Iovance Biotherapeutics from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $20.25.

About Iovance Biotherapeutics

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.